Getting on Board with Corporate Social Responsibility

Corporate boards can and should influence their companies' social and environmental performances finds a new report.

Institutional investors are helping push the importance of social and environmental issues on companies' bottom lines. Corporate boards now need to figure how to respond to investors' and other stakeholders' demands concerning social, environmental, and governance (ESG) issues finds the report "The Role of the Board of Directors in Corporate Social Responsibility." The report was published by the Conference Board of Canada, a non-profit that researches business and economic trends.

Visit the Prospectus Ordering Center"Long term investors are realizing that how the firm manages its social and environmental impacts and responds to social and environmental trends can affect long term firm performance," said Coro Strandberg, author of the report and principal of Strandberg Consulting, based in Burnaby, British Columbia.

The report finds that the Canadian companies concentrate more on their corporate social responsibility (CSR) as it relates to operations than on CSR from a governance perspective. However, this trend is changing as more boards are starting to consider CSR issues.

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